Gladstone Investment (NASDAQ:GAIN) Shares Gap Down – Here’s Why

Shares of Gladstone Investment Co. (NASDAQ:GAIN) gapped down before the market opened on Friday . The stock had previously closed at $14.81, but opened at $14.00. Gladstone Investment shares last traded at $13.88, with a volume of 117,468 shares changing hands.

Analyst Ratings Changes

GAIN has been the subject of a number of analyst reports. B. Riley decreased their target price on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. StockNews.com cut Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th.

Gladstone Investment Stock Down 6.3 %

The stock has a market capitalization of $509.24 million, a PE ratio of 5.60 and a beta of 1.33. The firm has a 50 day moving average price of $13.31 and a 200-day moving average price of $13.79.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $22.18 million for the quarter, compared to analyst estimates of $24.27 million. Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Equities analysts expect that Gladstone Investment Co. will post 0.99 earnings per share for the current fiscal year.

Gladstone Investment Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, October 4th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. Gladstone Investment’s dividend payout ratio is presently 38.71%.

Institutional Investors Weigh In On Gladstone Investment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GAIN. Melia Wealth LLC purchased a new stake in shares of Gladstone Investment in the first quarter worth about $13,455,000. Van ECK Associates Corp boosted its position in Gladstone Investment by 20.0% in the 2nd quarter. Van ECK Associates Corp now owns 845,074 shares of the investment management company’s stock worth $11,814,000 after purchasing an additional 140,723 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Gladstone Investment by 6.6% during the 1st quarter. Advisors Asset Management Inc. now owns 162,487 shares of the investment management company’s stock worth $2,312,000 after purchasing an additional 10,018 shares during the period. Blair William & Co. IL increased its holdings in shares of Gladstone Investment by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 156,333 shares of the investment management company’s stock valued at $2,186,000 after purchasing an additional 1,469 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new position in shares of Gladstone Investment in the 2nd quarter valued at $1,425,000. 11.85% of the stock is owned by institutional investors and hedge funds.

Gladstone Investment Company Profile

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.